Company to do to improve its ethical performance

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Reference no: EM132196249

Employment issues, supplier relationships, and corporate governance are of critical importance for companies. Imagine that have you been hired to help by Omnicorp (a public and highly visible corporation) that has faced negative press attention in these areas. Here are the most relevant facts you have gathered:

The CEO earns 450 times the pay of the average worker.

Last year the CEO got a 50 percent pay increase while the share price fell by 40 percent.

Last year, the corporation was in the news because a former CEO was credibly accused of sexual harassment.

The board is composed solely of white males.

Of the 15 senior executives, there is only one woman (the vice president of Human Resources) and one person of color (the director of community relations).

Omnicorp’s employee turnover (percentage of employees leaving in a given year) is twice its industry average, and women leave at a rate 60 percent higher than men.

The company’s main supplier is located in a country that has a reputation for low wages and human rights violations. The supplier was picked solely on the basis of cost. No one from Omnicorp has ever visited this supplier, and there is no information available about the supplier’s working conditions or commitment to human rights.

What would you advise this company to do to improve its ethical performance, given this set of facts? (Minimum of 500 words,)

Reference no: EM132196249

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